Sequencing Reagents Market Size, Share, Market Research and Industry Forecast Report, 2019-2026 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Sequencing Reagents Market


The global sequencing reagents market size was valued at USD 4.5 billion in 2018 and is expected to register a CAGR of 13.7% over the forecast period. The market is benefitted by constant developments in sequencing technologies to provide higher throughput data for large-scale genomic research. Development of novel technologies, such as Nanopore and Single-Molecule Real-Time (SMRT) sequencing, for efficient and cost-effective preparation of sequencing libraries, enable researchers to sequence the entire genome within a short span of time at a lower cost. This, coupled with availability of new commercial kits providing reagents for specific sequencing applications, drives the market progression.

Streamlining the workflow and automation have gradually reduced the overall time of library preparation step. In addition, tagmentation during library preparation combines adaptor ligation and genome fragmentation into a single step. Incorporation of this technique into existing sequencing procedures simplifies workflow, reduces cost, and improves data quality.

Exponential decline in genetic sequencing cost from USD 10-15 million per genome in 2001 to USD 1,200 per genome in 2017 has significantly boosted the growth of sequencing technologies, which in turn fuels the utilization of sequencing reagents. This reduction in cost has also decreased the price for installation of sequencing platforms in recent years.

Presence of supportive government programs has augmented the growth of genome sequencing in identifying the genomic variations associated with human diseases. For instance, in December 2018, NHS England, in partnership with Genomics England, sequenced 100,000 whole genomes from NHS patients to uncover new diagnoses and treatment for patients with cancer and rare inherited diseases.

Furthermore, increase in funding from public and private entities has supplemented the growth of high throughput technology, subsequently enhancing demand for their respective reagents. For instance, in March 2018, the German Research Foundation funded USD 17.3 million to four new German sequencing centers to equip them with NGS technology.

Technology Insights of Sequencing Reagents Market

The NGS segment occupied a major market share in 2018. This is because NGS has become a common practice in molecular diagnostics, molecular pathology, and other clinical research applications due to its lower costs and higher throughput capabilities. Moreover, the deep sequencing approach offered by NGS platforms allows better discovery power to determine novel or rare variants.

NGS technology has exhibited strong potential for the expansion of companion diagnostics and personalized medicinefor the treatment of chronic diseases. This further drives the development of more efficient, targeted, and complex medicines and enables clinicians to increasingly adopt NGS platforms for in-vitro diagnostics, thus influencing NGS demand.

A rise in the demand for third generation sequencing (TGS) technologies is attributive to the lucrative growth rate of this segment. With the emergence of TGS, genome sequencing has become a faster and reliable method to study genomic variations. SMRT technology has allowed scientists to initiate re-sequencing of the genome that has already been sequenced to accomplish a higher level of accuracy. For instance, by using SMRT technique, Escherichia coli can be sequenced to an accuracy of 99.99%.
Reagent


Type Insights of Sequencing Reagents Market

The sequencing kits segment dominated the market in terms of revenue in 2018 and is expected to maintain its lead throughout the forecast period. This is due to the presence of major high throughput platforms such as the MiniSeq, MiSeq, iSeq, NextSeq, HiSeq X, and NovaSeq series from Illumina; PGM, IonS5, Ion Proton system from Thermo Fisher Scientific; and MinION, GridION X5, and PromethION from Oxford Nanopore.

Constant developments enhancing library preparation workflow is expected to significantly drive the library kits segment in the coming years. Automating the library construction with the use of liquid handling platform, along with its accessories for heating, cooling, shaking, and magnetic bead manipulations, yield high-quality libraries for whole-genome sequencing.

Application Insights of Sequencing Reagents Market

Oncology accounted for the largest share in the sequencing reagents market in 2018 due to high usage rate of reagents for clinical research and development of cancer diagnostics and therapeutics. With rapid development of sequencing capabilities, it has become easier for oncologists to access genetic information and heterogeneity associated with cancer and cancer-related genes.

Analysis of tumor transcriptomics, genomics, and epigenomics by NGS is positively influencing biomarker discovery for cancer diagnostics and tumor stratification. Enhancement of sequencing capabilities has also assisted the development of precision oncology that stimulates new oncological clinical trial designs for detection of genetic vulnerabilities in patients.

Identification of pathogens by high-throughput technologies and bioinformatics results in the delivery of in-depthinsights into antimicrobial resistance, virulence, and disease transmission. This drives the adoption of reagents in the field of clinical and public health microbiology. The clinical investigation segment is projected to witness the fastest growth over the course of the forecast period.

End-use Insights

On the basis of end use, the market has been segmented into academic research, clinical research, hospitals and clinics, pharmaceutical and biotechnology companies, and others. Among these, academic research captured the largest revenue share due to the presence of a substantial number of universities and research centers involved in providing courses on molecular biology with a wide application of NGS techniques. Scholarships offered by these centers for PhD projects in NGS is projected to drive demand for NGS reagents.

The clinical research segment is anticipated to register the fastest growth over the forecast period. Rising penetration of high throughput technology-based diagnostic tests that are CLIA waived or are under the process of clinical approval is anticipated to influence the market progression of this segment. The conventional Sanger method and its associated reagents are still a common choice for clinical applications and research. The adoption of NGS reagents is on the rise for clinical diagnostics becauseNGSs single-nucleotide resolution is capable of detecting the smallest possible mutations (SNPs), without requiring additional information about the mutation. With advancements in technology, the combined detection of larger abnormalities and SNPs has become easier in recent years.

Regional Insights of Sequencing Reagents Market

North America dominated the global market in terms of revenue and is expected to register the highest growth during the forecast period. This is due to simultaneous developments undertaken by well-established as well as emerging players to expand their reagents portfolio. ABclonal Technology marks this trend with the launch of NGS library preparation kits in September 2018. Asia Pacific is expected to witness lucrative growth in the near future. Significant investments and funding in genetics research in China and Japan has resulted in the technological integration of high throughput technologies. This has enhanced the adoption of sequencing technologies in Asia Pacific.

Market Share Insights of Sequencing Reagents Market

Prominent participants in the market include Thermo Fisher Scientific, Inc.; Illumina, Inc.; QIAGEN; BGI; Pacific Biosciences of California, Inc.; F. Hoffmann-La Roche AG; Oxford Nanopore Technologies; Agilent Technologies, Inc.; Fluidigm Corporation; ArcherDX, Inc.;Takara Bio Inc.; and Bioline.

Market participants are making significant investments to reinforce their market presence and maintain a competitive edge in the space. Moreover, key companies are involved in several collaborative models, product development, and geographic expansion strategies in untapped regions. For instance, in March 2019, Agilent Technologies introduced a new library preparation system for NGS technology called Magnis NGS Prep System. This new system includes reagents and protocols that are designed to easily assay complex genetic aberrations and multiple genes from genomic DNA.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Sequencing Reagents Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global sequencing reagents market report on the basis of technology, reagent type, application, end use, and region:

Technology Outlook (Revenue, USD Million, 2019 - 2030)

  
Sanger Sequencing
  
Next Generation Sequencing
  
Third Generation Sequencing

Reagent Type Outlook (Revenue, USD Million, 2019 - 2030)

  
Library Kits
  
Template Kits
  
Control Kits
  
Sequencing Kits
  
Others

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Oncology
  
Reproductive Health
  
Clinical Investigation
  
Agrigenomics & Forensics
  
Others

End-use Outlook (Revenue, USD Million, 2019 - 2030)

  
Academic Research
  
Clinical Research
  
Hospitals & Clinics
  
Pharmaceutical & Biotechnology Companies
  
Others